Legal ownership can be a slippery slope in real estate, so in most cases, lenders require you to get a lender’s title insurance to protect them from possible defects. On the other hand, sellers may sometimes buy an owner title insurance to protect the property’s ownership rights. While it is optional, we highly recommend getting a policy since many title issues can arise without warning.
As part of our escrow services, we conduct a title search by looking at public records to get information on your property. From there, we check the property’s legal ownership status and verify if the title can be insured. Many times, issues can be so hidden that they are only uncovered after a transaction is closed.
While the buying process requires a thorough examination of public records, it is still difficult to ensure a 100% risk-free transaction. Problems like forged signatures or filing errors can easily lead to losses, so getting insurance from us serves as a safety net to ensure that you get coverage for a title defect. In addition, the policy will last throughout your ownership, so it is a worthwhile investment.